Regulus Discovers New Near-Surface Gold Zone Two Kilometres Northeast of Rio Grande Ring Structure
Published : November 16, 2012

297 m with 0.36 g/t Au and 0.06% Cu (0.46 g/t Au Eq) starting at surface including 31 m with 0.74 g/t Au and 0.08% Cu and 66 m with 0.58 g/t Au and 0.08% Cu

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 16, 2012) - Regulus Resources Inc. ("Regulus" or the "Company") (News - Market indicators) is pleased to announce a new, near-surface, gold discovery at the Northeast gold target located two kilometres to the northeast of the Rio Grande ring structure at the Rio Grande copper-gold-molybdenum project in Salta Province, Argentina. Drill hole RGR-12-118 has tested the southern edge of a 900 by 600 metre gold-in-soil anomaly first identified in 2011 (see figure 1) and encountered significant gold mineralization of a style similar to the Lindero heap leach gold deposit of Mansfield Minerals (MDR TSX.V), located ten kilometers to the southeast. Please refer to Figure 2 for a comparison of the size of the Lindero deposit with respect to the Northeast gold-in-soil anomaly. 

Results from RGR-12-118 are summarized below and in Table 1. The location of the drill hole is noted in Figures 1 and 2.

  • RGR-12-118 intersected: 
    297 m with 0.36 g/t Au and 0.06% Cu (0.46 g/t Au Eq) including
    31 m with 0.74 g/t Au and 0.08% Cu and 66 m with 0.58 g/t Au and 0.08% Cu
  • Mineralization commences at the surface and is associated with stockwork quartz-magnetite veinlets that are hosted within intrusive breccias and adjacent red bed sedimentary rocks cut by several narrow diorite intrusions
  • This is effectively the first hole into a large (900 by 600 m) gold-in-soil anomaly and there is good potential to outline a deposit of significant size

John Black, President and CEO of Regulus commented as follows: "The discovery of a new zone of gold mineralization two kilometres to the northeast of the known copper-gold mineralization in the Rio Grande ring structure continues to demonstrate the size and strength of the Rio Grande system and the potential for the project to deliver additional exciting results. We are particularly encouraged as this is only the second hole drilled in the Northeast target. The first was drilled 500 metres to the west in 2007, prior to the recognition of the full extent and strongest portion of the gold-in-soil geochemical anomaly.

Given the size of the gold-in-soil anomaly (900 by 600 metres), and the position of drill hole RGR12-118 along its southern margin, we are very encouraged by these results and believe there is good potential to outline a deposit of significant size. We will be following up with additional drilling once we have conducted more detailed geological mapping and additional geophysical studies to better define the drill target."


Drill hole RGR-12 -118 was collared on the southern edge of a 900 by 600 metre gold-in-soil anomaly first announced in March 2011 (see Regulus news release March 3, 2011) and subsequently expanded in 2012. The 297 metres of mineralization encountered in RGR-12-118 starts at the surface and is consistently mineralized throughout the hole with values up to 1.54 g/t Au and no high values that would unduly influence the average grade. The mineralization in RGR-12-118 is hosted in intrusive breccias and moderately hornfelsed red-bed sedimentary rocks intruded by a number of narrow mineralized diorite intrusions. 

RGR-12-118   From To Metres Au Cu Ag Mo
TD = 759.00 m   6.00 303.00 297.00 0.36 0.06% 0.45 0.001%
  including 6.00 30.00 24.00 0.58 0.07% 0.31 0.001%
  and 74.00 105.00 31.00 0.74 0.08% 0.40 0.001%
  and 141.00 195.00 54.00 0.29 0.08% 0.29 0.001%
  and 237.00 303.00 66.00 0.58 0.08% 1.02 0.002%
  including 240.00 284.00 44.00 0.69 0.10% 1.27 0.003%

Table 1: Rio Grande Drill Results

Northeast Target Exploration Plans 

The Company intends to conduct a geophysical, geochemical and mapping program prior to commencing with follow-up drilling in the Northeast target. The initial program is expected to be initiated by the end of 2012 and will include:

  • Extending the existing ground magnetic survey which does not cover the area of the new soil anomaly.
  • Geological mapping to aid in drill target selection and prospecting to identify new potential areas.
  • Expansion of the existing soil survey to the east.
  • Drilling high priority targets in 2013.

Figure 1: Northeast Target Location Map: 

About Regulus Resources Inc.

Regulus Resources Inc. (News - Market indicators) is a mineral exploration company formed in December, 2010 in connection with the sale of Antares Minerals Inc. to First Quantum Minerals Ltd. (FM. TSX). Regulus has been exploring the Rio Grande Cu-Au-Mo porphyry project in Salta Province of NW Argentina as a 50/50 joint venture partner with Pachamama Resources and the two companies recently merged under the name of Regulus Resources to consolidate a 100% interest in the project and pursue an aggressive exploration program (see Regulus press releases of May 11 and May 16, 2012).

Figure 2: Northeast Target Soil Au Geochemistry Map:

All of Regulus' exploration programs and pertinent disclosure of a technical or scientific nature are prepared by, or under the direct supervision of, Wayne Hewgill, P.Geo, and Regulus' COO, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.

The Rio Grande samples were analysed with the following methods: Au - 30 g FA with AA Finish, Cu - four acid digestion for trace Cu and four acid digestion and AAS for ore grade Cu, 35 element Aqua Regia ICP-AES.

Regulus' security, chain of custody and quality control is described on their website and can be reviewed at:

Forward Looking Information

Certain statements regarding Regulus, including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Regulus' control.

Specifically, and without limitation, all statements included in this press release that address activities, events or developments that either Regulus expects or anticipates will or may occur in the future, including management's assessment of future plans and operations and statements with respect to the completion of the anticipated drilling program and the completion of a NI 43-101 compliant resource estimate, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Regulus' control. These risks may cause actual financial and operating results, performance, levels of activity and achievements to differ materially from those expressed in, or implied by, such forward-looking statements. Although Regulus believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such risks and uncertainties include, but are not limited to: the impact of general economic conditions in Canada and Argentina, industry conditions including changes in laws and regulations including adoption of new environmental laws and regulations, and changes in how they are interpreted and enforced, in Canada and Argentina, fluctuations in commodity prices and ability to complete operations due to factors beyond Regulus' control.

Although the forward-looking statements contained in this Press Release are based upon assumptions which management believes to be reasonable, Regulus cannot assure shareholders that actual results will be consistent with these forward-looking statements. With respect to forward-looking statements contained in this press release, Regulus has made assumptions regarding: current commodity prices and royalty regimes; timing of receipt of regulatory approvals; availability of skilled labour; timing and amount of capital expenditures; future exchange rates; the impact of increasing competition; conditions in general economic and financial markets; effects of regulation by governmental agencies; royalty rates; future operating costs; and other matters.

Accordingly, Regulus does not give any assurance nor make any representations or warranty that the expectations conveyed by the forward-looking statements will prove to be correct and actual results may differ materially from those anticipated in the forward-looking statements. Regulus does not undertake any obligation to publicly update or revise any forward-looking statements other than required by applicable securities law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Regulus Resources Inc.
John Black
President and CEO
720 514-9036 or Mobile: 303 618-7797
Regulus Resources Inc.
Wayne Hewgill, P.Geo
778 438-2481 or Mobile: 604 961-0033
Data and Statistics for these countries : Argentina | Canada | All
Gold and Silver Prices for these countries : Argentina | Canada | All

Regulus Resources Inc.

Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
Projects & res.
Asset profile
Contact Cpy

Regulus Resources is an exploration company based in Canada.

Its main exploration property is RIO GRANDE in Argentina.

Regulus Resources is listed in Canada. Its market capitalisation is CA$ 100.4 millions as of today (US$ 77.9 millions, € 66.2 millions).

Its stock quote reached its highest recent level on January 08, 2010 at CA$ 9.58, and its lowest recent point on January 22, 2016 at CA$ 0.19.

Regulus Resources has 56 405 583 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
Financings of Regulus Resources Inc.
2/15/2012Regulus has allocated $20 million Financing
Project news of Regulus Resources Inc.
1/18/2013Regulus Completes 2012 Drilling Campaign at the Rio Grande P...
1/18/2013(Rio Grande)Completes 2012 Drilling Campaign at the Rio Grande Project i...
1/18/2013(Rio Grande)Completes 2012 Drilling Campaign at the Rio Grande Project i...
10/25/2012(Rio Grande)Discovers New Southwest Gold Stockwork Zone Rio Grande Proje...
9/21/2012Regulus Extends High-Grade Copper-Gold Mineraliz =?ISO-8859-...
9/21/2012Regulus Extends High-Grade Copper-Gold Mineraliz =?ISO-8859-...
4/8/2011(Rio Grande)Starts Exploration Program on the Rio Grande Project
3/1/2011(Rio Grande)Rio Grande Project Exploration Program Update
Corporate news of Regulus Resources Inc.
5/18/2016Regulus Resources Announces Agreements for Collaborative Exp...
11/4/2014Regulus Announces Closing of First Tranche of $5 Million Fin...
10/1/2014Regulus and Southern Legacy Announce Closing of Arrangement
5/20/2014Regulus and Southern Legacy Announce Agreement to Merge
12/20/2013and Highway 50 Reach Agreement for Option=2FJV of Golden Bre...
5/14/2013Commences Drilling at the Cerro Cori Gold Target
11/16/2012(Rio Grande)Discovers New Near-Surface Gold Zone Two Kilometres Northeas...
11/16/2012(Rio Grande)Discovers New Near-Surface Gold Zone Two Kilometres Northeas...
9/21/2012(Rio Grande)Extends High-Grade Copper-Gold Mineralization-Southwest Zone...
2/23/2012Regulus and Pachamana sign arangemnst agreement
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
CA$ 1.78
05/18 15:07 0.010
Prev close Open
1.77 1.78
Low High
1.78 1.78
Year l/h YTD var.
1.65 -  2.25 -20.89%
52 week l/h 52 week var.
1.52 -  2.25 -4.30%
Volume 1 month var.
1,600 -6.32%
24hGold TrendPower© : 31
Explores for Gold
Interactive chart Add to compare
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
5 years chart
3 months chart
3 months volume chart
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
announces expected non-cash impairment
AU$ 6.36+1.76%Trend Power :
Oceana Gold(Au)OGC.AX
AU$ 3.38-1.46%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.41+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.14+3.85%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.52+1.96%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
US$ 2.19+3.30%Trend Power :
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
Reduced Funding Requirement
GBX 2.55+2.82%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.23+9.52%Trend Power :
Closes Bridge Loan Financing
CA$ 1.83-1.08%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 4.96-0.20%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 8.51-1.62%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.06+0.00%Trend Power :
Q A April 2017 Quarterly Report
AU$ 0.20+2.56%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 0.45+4.65%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 0.17+3.03%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 41.96-0.94%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
2nd Quarter Report
AU$ 0.13+0.00%Trend Power :